Carvana Co. (NYSE:CVNA) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its holdings in Carvana Co. (NYSE:CVNA – Get Rating) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,376 shares of the company’s stock after acquiring an additional 951 shares during the period. Arizona State Retirement System’s holdings in Carvana were worth $120,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Carvana by 37.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,209 shares of the company’s stock valued at $72,000 after acquiring an additional 4,122 shares during the period. Equitec Proprietary Markets LLC acquired a new position in Carvana during the 4th quarter valued at about $381,000. Clearwater Capital Advisors LLC acquired a new position in Carvana during the 4th quarter valued at about $187,000. Taylor Frigon Capital Management LLC raised its position in shares of Carvana by 213.7% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 183,429 shares of the company’s stock worth $869,000 after buying an additional 124,955 shares in the last quarter. Finally, RV Capital AG raised its position in shares of Carvana by 37.2% during the 3rd quarter. RV Capital AG now owns 709,835 shares of the company’s stock worth $14,410,000 after buying an additional 192,500 shares in the last quarter. Hedge funds and other institutional investors own 63.62% of the company’s stock.

Carvana Stock Down 5.1 %

CVNA opened at $10.94 on Friday. Carvana Co. has a twelve month low of $3.55 and a twelve month high of $58.05. The firm’s 50-day simple moving average is $9.20 and its 200-day simple moving average is $8.28. The company has a debt-to-equity ratio of 17.69, a quick ratio of 1.10 and a current ratio of 1.62. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -0.77 and a beta of 2.83.

Carvana (NYSE:CVNA – Get Rating) last issued its earnings results on Thursday, May 4th. The company reported ($1.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.87) by $0.36. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.58 billion. Carvana had a negative net margin of 11.70% and a negative return on equity of 1,491.81%. The company’s revenue for the quarter was down 25.5% on a year-over-year basis. During the same quarter last year, the firm earned ($2.89) EPS. Equities research analysts anticipate that Carvana Co. will post -5.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on CVNA. Morgan Stanley began coverage on shares of Carvana in a report on Monday, May 15th. They issued an “equal weight” rating on the stock. Wedbush restated an “underperform” rating on shares of Carvana in a report on Friday, February 24th. DA Davidson boosted their price target on shares of Carvana from $5.00 to $7.00 in a report on Tuesday, February 21st. Evercore ISI boosted their price target on shares of Carvana from $9.00 to $10.00 in a report on Thursday, March 23rd. Finally, Piper Sandler cut their price target on shares of Carvana from $45.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 16th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.05.

Carvana Profile

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Carvana Co is a holding company and an eCommerce platform, which engages in the buying and selling of used cars. The company was founded by Ernest Garcia, III, Benjamin Huston and Ryan Keeton in 2012 and is headquartered in Tempe, AZ.